At special meetings of shareholders held on May 29, 2018, Meta Financial Group and Crestmark Bancorp’s respective shareholders approved the proposal to adopt the agreement and plan of merger entered into by the parties as of January 9, 2018, and to approve the merger of Meta and Crestmark and the other transactions contemplated by the merger agreement.
Meta shareholders also approved a proposal to increase the number of authorized shares of Meta common stock from 30 million to 90 million, for the purpose of facilitating a proposed three-for-one forward split of issued and outstanding shares of Meta common stock through a stock dividend.
Completion of the merger remains subject to customary closing conditions, including receipt of regulatory approvals, which are still pending. The companies anticipate the merger will close in early July 2018.
